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Mr Soros, who has a net worth of $8 billion, is well known for being a mega-donor for the Democratic Party and was one of nine well-known Democrat supporters to receive packages rigged with explosives last week

The unfounded theory that he has been financially supporting the migrants has been making rounds within conservative media, according to The Washington Post.

Three Fox News hosts have publicly raised the idea that the caravans have received outside funding from Soros.

The President himself also suggested that the migrants were being paid to come to the US and shared a video on Twitter accompanying a tweet that said: “Footage in Honduras giving cash 2 women & children 2 join the caravan & storm the US border @ election time. Soros? US-backed NGOs? Time to investigate the source!"

Trump suggested Soros may be behind migrant caravan (Image: C-SPAN)

In addition, Mr Trump told reporters “immigration is a very very big, and really dangerous topic and we’re not gonna allow people into our country that don’t have the wellbeing of our country in mind.

“With the roughness of these people in the second caravan that’s been forming, and also frankly in the first caravan and now they have one forming we are thinking very seriously about immediately stopping aid to those countries because, frankly, they’re doing nothing for the American people.”

To this end, the President announced that he might triple the number of service members at the US-Mexico border from 5000 to 15000.